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2 5 In the accounting records of a defendant, lawsuits: 5 points 0 0 : 2 5 : 3 2 Multiple Choice Are known liabilities.
In the accounting records of a defendant, lawsuits:
points
::
Multiple Choice
Are known liabilities.
Should always be recorded as a liability.
Should always be disclosed in financial statement notes.
Should be recorded if payment for damages is probable and the amount can be reasonably estimated.
Should never be recorded.
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